UK chipmaker Fractile plans $136 million boost for AI chip production

Britain said on Tuesday that homegrown chipmaker Fractile will ​invest 100 million pounds ($136.43 million) in ‌its UK operations over the next three years, including ‌a new hardware engineering facility to support the scale-up of its AI chip production.

The investment from Fractile, a London-based computer chipmaker, will ⁠fund a larger ‌UK-based engineering team and support work on next-generation systems designed to run ‍advanced artificial intelligence models faster than current hardware, the British government said.

The new site, in the ​western English city of Bristol, will assemble ‌Fractile’s chips into full AI systems and host a testing lab for software built for future compute technologies.

Britain said Fractile’s decision to scale in the country reflects confidence in ⁠its tech sector, which ​the government says is ​now valued at more than 1 trillion pounds.

AI Minister Kanishka Narayan, who is ‍expected to ⁠announce the investment at an event in London, said Fractile’s plans showed how ⁠British companies could strengthen the country’s position in advanced ‌computing.

($1 = 0.7330 pounds)